BREAKDOWN: Why Is Bitcoin Going Up?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 29 March 2022
⏱️ 18 minutes
🧾️ Download transcript
Summary
Is it geopolitics, a bid from a stablecoin project, or both?
This episode is sponsored by Nexo.io, Arculus and FTX US.
Today on “The Breakdown,” NLW looks at the last two days of bullish momentum and sentiment. Is it being driven by geopolitics and a broad recognition around the Russia-Ukraine war of bitcoin’s importance in a volatile world? Is it the market reacting to Do Kwon and Terra’s multibillion-dollar bid to build an asset reserve for the UST stablecoin? Or is it, like always, some combination of narrative and market structure?
-
Take your crypto to the next level with Nexo. Invest and swap instantly, earn up to 20% APR on your idle assets or borrow cash against them at industry-leading rates. Get started today at nexo.io to receive up to a $100 welcome bonus. Valid through March 31.
-
Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com.
-
FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today.
-
Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022.
-
“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:15.0 | The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk. |
| 0:22.8 | What's going on, guys? It is Tuesday, March 29th, and today we are asking that all-important |
| 0:28.3 | question. Why is the price of Bitcoin going up? Before that, however, if you are enjoying the |
| 0:34.5 | breakdown, please go subscribe, give it a rating, give it a review, |
| 0:42.5 | or if you want to get deeper into the conversation, come join us on the Breakers Discord. |
| 0:47.4 | You can find a link in the show notes or go to bit.ly slash breakdown pod. |
| 0:53.7 | Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with FTX. Okay, so I think it's fairly likely |
| 0:56.5 | at this point that you've noticed that over the last couple days, Bitcoin has gone up and drag the |
| 1:01.9 | rest of the crypto markets up with it. Today we're going to explore some of the reasons why, |
| 1:06.9 | and really this is just kind of an excuse to look at recent news and try to understand how all these |
| 1:11.2 | pieces come together. It's important to note that crypto markets are always some combination |
| 1:16.1 | of narrative plus market structure. And in a lot of ways, that means that any time you try to figure |
| 1:21.8 | out what's driving a price, you're really trying not to figure out what's the one thing behind |
| 1:27.4 | any movement up or down, |
| 1:29.0 | but instead how these different forces are pulling and pushing on the asset |
| 1:33.3 | and the asset class as a whole at any given time. |
| 1:36.6 | Obviously, we're mostly focused on the last couple of days |
| 1:39.3 | where we've seen this big pop across crypto assets, but let's zoom out a bit. |
| 1:46.2 | Jason Williams tweeted yesterday, |
| 1:55.0 | Bitcoin is up 23.55% over the past 30 days, and a total of 8,906. How is gold doing again? |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.